Marketing Ch 15

Front 1

Value Chain

Back 1

a series of activities invbolved in designing, producing, marketing, delivering, and supporting any product; each link in the chain has the potential to either add or remove value from the product the customer eventually buys

Front 2

Suppy Chain

Back 2

all the activities necessary to turn raw materials into a good or service and put it in the hands of the consumer or business customer

Front 3

Supply Chain Management

Back 3

the management of flows among firms in the supply chain to maximize total profitability

Front 4

Insourcing

Back 4

a practice in which a company contracts with a specialist firm to handle all or part of its supply chain operations

Front 5

Channel of Distribution

Back 5

the series of firms or individuals that facilitates the movement of a product from the producer to the final customer

Front 6

Channel Intermediaries

Back 6

firms or individuals such as wholesalers, agents, brokers, or retailers who help move a product from the producer to the consumer or business user

Front 7

Breaking Bulk

Back 7

dividing larger quantities of goods into smaller lots in order to meet the needs of buyers

Front 8

Creating Assortments

Back 8

providing a cariety of products in one location to meet the needs of buyers

Front 9

Facilitating Functions

Back 9

functions of channel intermediaries that make the purchase process easier for customers and manufacturers

Front 10

Disintermediation (of the channel of distribution)

Back 10

the elimination of some layers of the channel of distribution in order to cut costs and improve the efficiency of the channel

Front 11

Knowledge Management

Back 11

a comprehensive approach to collecting organizing, storing, and retrieving a firm's information assets

Front 12

On-Line Distribution

Back 12

the theft and unauthorized repurposing of intellectual property via the internet

Front 13

Wholesaling Intermediaries

Back 13

firms that handle the flow of products from the manufacturer to the retailer or business user

Front 14

Independent Intermediaries

Back 14

channel intermediaries that are not controlled by any manufacturers and many different customers

Front 15

Merchant Wholesalers

Back 15

intermediaries that buy goods from manufacturers (take title to them) and sell to retailers and other business-to-business customers

Front 16

Take Title

Back 16

to accept legal ownership of a product and assume the accompanying rights and responsibilities of ownership

Front 17

Merchandise Agent or Brokers

Back 17

channel intermediaries that provide services in exchange for commissions but never take title to the product

Front 18

Channel Levels

Back 18

the number of distinct categories of intermediaries that populate a channel of distribution

Front 19

Hybrid Marketing System

Back 19

a marketing system that uses a number of different channels and communication methods to serve a target market

Front 20

Slotting Allowance

Back 20

a fee paid in exchange for agreeing to place a manufacturer's products on a retailer's valuable shelf space

Front 21

Conventional Marketing System

Back 21

a multiple-level distribution channel in which channel members work independently of one another

Front 22

Vertical Marketing System (VMS)

Back 22

a channel of distribution in which there is formal cooperation among members at the manufacturing, wholesaling, and retailing levels

Front 23

Horizontal Marketing System

Back 23

an arrangement within a channel of distribution in which two or more firms at the same channel level work together for a common purpose

Front 24

Intensive Distribution

Back 24

Selling a product through all suitable wholesalers or retailers that are willing to stock and sell the product

Front 25

Exclusive Distribution

Back 25

selling a product only through a single outlet in a particular region

Front 26

Selective Distribution

Back 26

distribution using fewer outlets than intensive distribution but more than exclusive distribution

Front 27

Channel Leader

Back 27

a firm at one level of distribution that takes a leadership role, establishing operating norms and processes based on its power relative to other channel members

Front 28

Logistics

Back 28

the process of designing, managing, and improving the movement of products through the supply chain; logistics includes purchasing, manufacturing, storage, and transport

Front 29

Physical Distribution

Back 29

the activities that move finished goods from manufacturers to final customers. including order processing, warehousing, materials handling, transportation, and inventory control

Front 30

Order Processing

Back 30

the series of activities that occurs between the time an order comes into the organization and the time a product goes out the door

Front 31

Enterprise Resource Planning (ERP) Systems

Back 31

a software system that integrates information from across the entire company, including finance, order fulfillment, manufacturing, and transportation and then facilitates sharing of the data throughout the firm

Front 32

Warehousing

Back 32

storing goods in anticipation of sale or transfer to another member of the channel of distribution

Front 33

Materials Handling

Back 33

the moving of products into, within, and out of warehouses

Front 34

Transportation

Back 34

the mode by which products move among channel members

Front 35

Inventory Control

Back 35

activities to ensure that goods are always available to meet customers' demands

Front 36

Radio Frequency Identification (RFID)

Back 36

product tags with tiny ships containing information about the item's content, origin, and destination

Front 37

Just in Time (JIT)

Back 37

inventory management and purchasing processes that manufacturers and resellers use to reduce inventory to very low levels and ensure that deliveries from suppliers arrive only when needed